Prudential Financial, Inc. Declares Annual Dividend On Common Stock
November 10, 2009 |
| Prudential Financial, Inc. announced that its Board of Directors has declared an annual dividend for 2009 of $0.70 per share of common stock, payable on December 18, 2009, to shareholders of record at the close of business on November 24, 2009. The 2009 common stock declared dividend represents an increase of approximately 21% from fiscal 2008 common stock dividend. |
Prudential Financial, Inc. Raises FY 2009 EPS Guidance
November 4, 2009 |
| Prudential Financial, Inc. announced that it expects to achieve common stock earnings per share (EPS) for fiscal 2009 in the range of $5.40 to $5.60 based on after-tax adjusted operating income of the Financial Services Businesses. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $5.47 for the same period. |
Prudential Financial, Inc. Unveils Solution To America`s Retirement-Savings Crisis
October 27, 2009 |
| Prudential Financial, Inc. announced that it has launched Redefining Retirement, a new model for the design, management and administration of workplace-provided retirement plans, raising the bar for the industry by delivering solution to the retirement-savings crisis now plaguing American workers. |
Prudential Financial, Inc. Explores Options For Investment And Fund Management Businesses In Korea
October 5, 2009 |
| Prudential Financial, Inc. announced that it is currently exploring options with regard to its investment and fund management businesses in Korea. These options include a possible sale of either or both of Prudential Investments & Securities Co., Ltd. and Prudential Asset Management Co., Ltd., which are headquartered in Seoul, South Korea. This does not affect Prudential`s life insurance business in Korea: The Prudential Life Insurance Company of Korea, Ltd. (also known as Prudential of Korea or POK). |
New Team Joins Prudential Financial, Inc.'s PREI To Expand U.K. Platform and Introduce Series Of U.K. Property Funds
September 22, 2009 |
| Prudential Real Estate Investors (PREI) announced that it has hired a team of real estate professionals to expand its commercial real estate platform in the U.K. and introduce a series of U.K. property funds. The team includes Charles Crowe, Paul Dennis-Jones and Andrew Grigson, part of the core group that managed the U.K. funds sponsored by UBS Global Asset Management. PREI is the real estate investment and advisory business of Prudential Financial, Inc. |
Prudential Financial, Inc.'s European Property Arm Pramerica Launches UK Real Estate Income Fund-Reuters
September 21, 2009 |
| Reuters reported that Pramerica Real Estate Investors, the European property arm of Prudential Financial, Inc., is to launch an open ended fund for institutional investors keen to harness high income returns available in UK commercial property. The Pramerica UK Real Income Fund will invest in a portfolio of assets with low levels of depreciation and volatility let to companies with low credit risk on long leases with fixed or inflation-linked rents. The fund will target assets with potential to track and exceed the UK Retail Price Index by between 4% and 5%, after fees and costs adding that it could grow to GBP500 million ($817.5 million) over the next five years. |
Prudential Financial, Inc. Announces Investment Bby Nippon Life Insurance Company
September 16, 2009 |
| Prudential Financial, Inc. announced that Nippon Life Insurance Company has signed a definitive agreement to purchase a $500 million 10 year exchangeable surplus note issued by The Prudential Insurance Company of America. The transaction is expected to close on September 18, 2009. Under the terms of the transaction, Nippon Life can exchange the surplus note for shares of Prudential Financial common stock at any time, at Nippon Life's option, beginning on the fifth anniversary of issuance of the note. Barclays Capital served as financial advisor to Prudential on this transaction. |
Prudential Financial, Inc. Gets OK For Lending In Japan-Reuters
September 14, 2009 |
| Reuters reported that Prudential Financial, Inc. has won a licence for commercial real estate finance business in Japan, where it sees growing demand for debt refinancing and to finance property transactions. Prudential Mortgage Capital Co, a commercial real estate finance unit of Prudential Financial, Inc., won the licence on August 28 and has started marketing the nonrecourse loan service. Nonrecourse loans are secured by collateral, usually property, and lenders can only collect the collateral by which the loan is secured. |
Prudential Financial, Inc. Launches $1.5 Billion Two Part Note Offering-DJ
September 10, 2009 |
| Dow Jones reported that Prudential Financial, Inc. launched a $1.5 billion offering of medium term notes. The $600 million three year issue was launched at a spread of 225 basis points over Treasurys, and the $900 million six year piece was launched at a spread of 250 basis points over Treasurys. Proceeds will be used to fund general corporate purposes. |
Prudential Financial, Inc. to Sell S.Korea Brokerage Unit-Reuters
September 3, 2009 |
| Reuters reported that Prudential Financial, Inc. put its South Korean brokerage unit up for sale in a deal worth up to $800 million as part of the U.S. group's restructuring. The Maeil Business Newspaper cited unnamed M&A industry sources as saying Christopher Cooper, who leads Prudential's international investments, had contacted an unidentified South Korean financial service company last month in relation to the possible sale of the unit, Prudential Investment & Securities. The Company had picked Deutsche Bank as lead manager on the sale and wanted to fetch KRW700 billion to KRW1 trillion ($563 million-$804 million) from the deal. |
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